ECOWAS: Perfume Market 2024

Perfume Market Size in ECOWAS

The ECOWAS perfume market shrank to $X in 2022, which is down by X% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Perfume Production in ECOWAS

In value terms, perfume production fell to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Perfume Exports

Exports in ECOWAS

In 2022, overseas shipments of perfumes and toilet waters increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, perfume exports expanded modestly to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Cote d'Ivoire dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Senegal (X tons), creating a X% share of total exports. Nigeria (X tons) held a little share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the perfumes and toilet waters exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Senegal experienced a relatively flat trend pattern. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest perfume supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price saw a pronounced decline. The pace of growth was the most pronounced in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.

Perfume Imports

Imports in ECOWAS

For the fifth year in a row, ECOWAS recorded growth in overseas purchases of perfumes and toilet waters, which increased by X% to X tons in 2022. Overall, imports showed resilient growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, perfume imports dropped to $X in 2022. In general, imports recorded prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Senegal (X tons) represented the major importer of perfumes and toilet waters, generating X% of total imports. Ghana (X tons) held the second position in the ranking, distantly followed by Mali (X tons). All these countries together held approx. X% share of total imports. Nigeria (X tons), Burkina Faso (X tons), Niger (X tons), Togo (X tons), Guinea (X tons) and Cote d'Ivoire (X tons) took a relatively small share of total imports.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Ghana (X%), Togo (X%), Guinea (X%), Niger (X%), Burkina Faso (X%), Nigeria (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal (X p.p.), Ghana (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Guinea, Niger, Burkina Faso, Cote d'Ivoire and Nigeria saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported perfumes and toilet waters in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Mali ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Ghana, perfume imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mali (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price showed a pronounced reduction. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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